Common use of Communication when Agent is Impaired Agent Clause in Contracts

Communication when Agent is Impaired Agent. If any of the Facility Agent, the Dollar Swingline Agent or the Euro Swingline Agent (as the case may be) is an Impaired Agent the Parties may, instead of communicating with each other through that Agent, communicate with each other directly and (while that Agent is an Impaired Agent) all the provisions of the Finance Documents which require communications to be made or notices to be given to or by that Agent shall be varied so that communications may be made and notices given to or by the relevant Parties directly. This provision shall not operate after a replacement Facility Agent, Dollar Swingline Agent or Euro Swingline Agent (as the case may be) has been appointed.

Appears in 2 contracts

Sources: Multicurrency Term and Revolving Facilities and Subscription Agreement (BHP Billiton LTD), Facility and Subscription Agreement (BHP Billiton PLC)